Big Picture.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), April, 2001

Verdict against State Farm upheld in appeal MOUNT VERNON, Ill. -An Illinois state Appellate Court has upheld most of a lower court's verdict in a nationwide class-action lawsuit against State Farm Mutual Automobile Insurance Co., ruling the country's largest auto insurer acted with "calculated deception of its policy holders" in supplying them with "afermarket" auto- body parts.

A Marion judge and jury had awarded $1.2 billion to 4.7 million plaintiffs in October 1999. The appellate court reduced the award by $130 million. A spokesman said State Farm plans to appeal to the Illinois Supreme Court. Bank One will pay $45 million to end suit CHICAGO - Bank One Corp has agreed to pay $45 million to settle a class-action lawsuit filed on behalf of shareholders...